Stock Futures Lower Following April Jobs Report

Meanwhile, Warren Buffett said Berkshire Hathaway bought a ton more Apple

May 4, 2018 at 9:13 AM
facebook X logo linkedin


Dow Jones Industrial Average (DJI) futures are trading below fair value this morning -- set to reverse yesterday's late-day momentum --  as Wall Street digests the nonfarm payrolls report for April. Specifically, Labor Department data showed the U.S. economy added 164,000 jobs for the month, falling short of an expected 192,000, while wage growth also came in below estimates. However, the unemployment rate fell to 3.9%, the lowest it's been in 17 years. Stocks are also reacting to the latest round of corporate earnings, while blue chip Apple (AAPL) is getting a boost after Warren Buffett told CNBC his Berkshire Hathaway (BRK.A) bought 75 million more shares of the iPhone maker during the first quarter.

Continue reading for more on today's market, including:

stocks today

5 Things You Need to Know Today

  1. The Chicago Board Options Exchange (CBOE) saw 938,226 call contracts traded on Thursday, compared to 709,407 put contracts. The single-session equity put/call ratio jumped to 0.76, while the 21-day moving average edged up to 0.65.
  2. Shares of restaurant operator Shake Shack Inc (NYSE:SHAK) are set to open at a two-year high this morning, thanks to the company's top- and bottom-line beat for the first quarter and round of bullish brokerage notes. SHAK stock, pointed 9.2% higher before the open, was already up over 10% in the past three months, and we identified the stock as a potential short-squeeze play back in January.
  3. Portola Pharmaceuticals Inc (NASDAQ:PTLA) is surging 32.3% before the open, after the Food and Drug Administration (FDA) approved the company's emergency blood thinner reversal treatment, AndexXa. However, this move would only put PTLA stock back where it was trading before a huge bear gap back on March 1.
  4. Another noteworthy earnings winner this morning is Alibaba Group Holding Ltd (NYSE:BABA), as shares of the Chinese e-commerce powerhouse trade up 2.1% after its fiscal fourth-quarter results. The company had another huge surge in revenue, as sales again topped estimates. BABA stock has recently been testing potential support atop the 200-day moving average.
  5. Earnings from Cboe Global Markets (CBOE), Celgene (CELG), Immunogen (IMGN), and Newell Brands (NWL) will close the book on a busy week. Looking ahead, next week's schedule features a number of speeches from Fed officials.

stock market news may 4

European Markets Trade Around Bank Stock Earnings

Stocks in Asia finished mostly lower, with losses for bank stocks weighing heavy on regional markets -- and caution prevailing ahead of today's U.S. nonfarm payrolls report. Hong Kong's Hang Seng shed 1.3%, and South Korea's Kospi lost 1%. Continued trade talks between the U.S. and China were also in focus, and the Shanghai Composite fared better than its peers with a drop of just 0.3%. Markets in Japan remain closed for holiday.

European markets are mixed at midday following a fresh slew of financial earnings, with major sector players HSBC, BNP Paribas, and Societe Generale all trading lower after their quarterly results. However, basic resources stocks are on the upswing, as sentiment remains positive on U.S.-China trade talks. At last check, London's FTSE 100 and Germany's DAX are both 0.4% higher, while France's CAC 40 is 0.1% lower.



 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI